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2016-10-17 06:16:09

ANTM

Anthem

$121.09

0.09 (0.07%)

, CI

Cigna

$120.90

-0.26 (-0.21%)

06:16

10/17/16

10/17

06:16

10/17/16

06:16

Anthem downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Gary Taylor downgraded Anthem (ANTM) to Neutral citing concerns over the company's individual insurance exchange exposure into 2017. Anthem's insurance exchange enrollment is poised to expand materially as other plans exit, Taylor tells investors in a research note. The analyst also assigns a less than 10% chance that the company's pending acquisition of Cigna (CI) gets approved. He lowered his price target for Anthem shares to $132 from $154.

Jefferies analyst David Windley downgraded Anthem (ANTM) to Hold from Buy saying the restoration of some of the company's expense cuts could limit 2017 earnings growth. "The belt-tightening also potentially signals under-investment in the platform," Windley tells investors in a research note. He sees a lack of catalysts for Anthem shares and cut his price target to $138 from $156. The health benefit company closed yesterday up $1.63 to $128.58. In Managed Care, Windley's top pick is UnitedHealth (UNH). The company has an attractive valuation and "best-in-class" management team, Windley argues. He has a Buy rating on UnitedHealth with a $163 price target.

08/25/16

COWN

08/25/16NO CHANGECOWN

Managed Care mergers unlikely to close, says Cowen

Cowen analyst Christine Arnold believes the current managed care mergers including Aetna (AET) and Humana (HUM) and Anthem (ANTM) and Cigna (CI) are unlikely to close. The analyst said the government's ability to appeal could extend the litigation process beyond the termination dates stipulated in the merger agreements. Arnold believes the Aetna/Humana merger has a better chance of closing relative to the Anthem/Cigna deal, but believes neither are likely to close.

CICigna

$120.90

-0.26 (-0.21%)

09/22/16

EVER

09/22/16INITIATIONTarget $134EVERHold

Cigna initiated with a Hold at Evercore ISI

Evercore ISI initiated Cigna with a Hold and a $134 price target.

08/22/16

LEER

08/22/16NO CHANGELEER

Leerink less positive that Anthem challenge to DOJ lawsuit will be successful

Following a conference call with an anti-trust specialist, Leerink analyst Ana Gupte is less positive that the Anthem (ANTM) challenge to the lawsuit by the DOJ will be successful. The analyst says that the specialist views the obstacles to a defense by Anthem-Cigna (CI) to the anti-trust concerns as too numerous to result in a successful close. Further, the analyst believes that any favorable decision, however unlikely, on the merger close, will likely be appealed by the DOJ. Nonetheless, the lower likelihood of this defense being successful may improve the odds of a successful Aetna (AET)-Humana (HUM) defense, the analyst notes.

08/15/16

FBRC

08/15/16NO CHANGEFBRC

FBR sees Anthem settlement with Justice Department as 'VERY unlikely'

FBR Capital analyst Chris Meekins says Friday's news reports implying an increased likelihood of a settlement between the Department of Justice and Anthem (ANTM) "may have created confusion among investors about what actually occurred at the August 12 hearing." After reviewing the transcript, the analyst believes nothing in the hearing indicated that a settlement was under active consideration. The Justice Department said, "We're always willing to hear any proposals that the defendants have," but did not say it was in settlement talks, Meekins tells investors in a research note. The analyst believes a settlement regarding Anthem's proposed acquisition of Cigna (CI) is "VERY unlikely." Anthem closed Friday up $1.99 to $130.19 while Cigna rose $6.69 to $133.31.